Heh, can't believe I'm finished with this (well at least come to a point that I can post). Started just to experience with a large piece on one of my creature sketches (1st frame of the WIP animation). It has been a little over a year since my first WIP is saved and roughly 85 hours in total. I know it could have been done with less details, less dithering, less colors or size but well, I tried a lot of things and came up with what I could do best. The good side is I've learnt a lot (including my limits) throughout the process.
Thanks to all the pixel masters for inspiring me, especially Jalonso for all his spot on advices. Hope I can inspire someone some day :)
Edit: Updated it with raising the overall contrast, antialiasing the shadow on the moon even further, correcting a few texture mistakes here and there (foot, leg, wing, teeth).
Note: I'm planning that this will be the first of a series of fantastic creatures. I'm planning a gryphon, a mechanical dragon and a minotaur after this but all with my personal tweaks.